Sanctuary Advisors LLC Makes New Investment in Cadence Design Systems, Inc. $CDNS

Key Points

• Sanctuary Advisors acquired 17,616 Cadence Design Systems shares worth approximately $6.6 million in the second quarter. Institutional investors and hedge funds now own 84.85% of the company.
• Analyst sentiment remains positive, with 13 Buy ratings and three Holds, producing a consensus “Moderate Buy” rating and an average price target of $405.69.
• Cadence reported quarterly EPS of $2.11, exceeding estimates, while revenue rose 24.2% year over year to $1.58 billion. Shares opened at $315.92, and insiders have sold roughly $35.7 million of stock over the past 90 days.

Sanctuary Advisors LLC acquired a new stake in Cadence Design Systems, Inc. (NASDAQ:CDNS - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 17,616 shares of the software maker's stock, valued at approximately $6,612,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Saranac Partners Ltd purchased a new stake in shares of Cadence Design Systems during the 2nd quarter worth $4,629,000. E20 Capital Ltd purchased a new position in Cadence Design Systems in the second quarter valued at $39,308,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Cadence Design Systems in the second quarter valued at $54,323,000. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Cadence Design Systems during the 2nd quarter worth about $548,000. Finally, Benchmark Investment Advisors LLC purchased a new stake in Cadence Design Systems during the 2nd quarter worth about $404,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CDNS shares. Piper Sandler increased their price objective on Cadence Design Systems from $325.00 to $349.00 and gave the company a "neutral" rating in a report on Tuesday, July 28th. Citigroup upped their price target on Cadence Design Systems from $400.00 to $420.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Oppenheimer reiterated a "market perform" rating and issued a $300.00 price target on shares of Cadence Design Systems in a research note on Tuesday, July 28th. Berenberg Bank set a $440.00 target price on shares of Cadence Design Systems in a report on Wednesday, May 27th. Finally, Wall Street Zen raised shares of Cadence Design Systems from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $405.69.

Insiders Place Their Bets

In other Cadence Design Systems news, CEO Anirudh Devgan sold 51,822 shares of the firm's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $395.00, for a total transaction of $20,469,690.00. Following the transaction, the chief executive officer directly owned 278,524 shares of the company's stock, valued at approximately $110,016,980. This trade represents a 15.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Paul Cunningham sold 2,000 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $323.32, for a total transaction of $646,640.00. Following the completion of the sale, the vice president directly owned 124,586 shares of the company's stock, valued at $40,281,145.52. The trade was a 1.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 89,599 shares of company stock worth $35,710,627. Corporate insiders own 0.49% of the company's stock.

Cadence Design Systems Stock Down 1.0%

Shares of NASDAQ CDNS opened at $315.92 on Tuesday. The business has a 50-day moving average price of $352.12 and a 200 day moving average price of $331.88. The stock has a market cap of $87.00 billion, a PE ratio of 62.81, a price-to-earnings-growth ratio of 3.42 and a beta of 1.15. The company has a quick ratio of 1.53, a current ratio of 1.74 and a debt-to-equity ratio of 0.36. Cadence Design Systems, Inc. has a 52-week low of $262.75 and a 52-week high of $416.69.

Cadence Design Systems (NASDAQ:CDNS - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The software maker reported $2.11 EPS for the quarter, topping the consensus estimate of $2.05 by $0.06. Cadence Design Systems had a return on equity of 27.98% and a net margin of 23.60%.The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The firm's revenue was up 24.2% compared to the same quarter last year. Cadence Design Systems has set its FY 2026 guidance at 8.050-8.150 EPS and its Q3 2026 guidance at 2.010-2.070 EPS. Equities research analysts forecast that Cadence Design Systems, Inc. will post 6.4 earnings per share for the current year.

Cadence Design Systems Company Profile

Cadence Design Systems, Inc NASDAQ: CDNS is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company's offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.

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